What happens with damage caused by the tenant?
Damage to the unit must be documented and proven that the tenant caused the damage. If it is, costs of repair/replacement may be held from the Security Deposit. However, if it carpeting or other capital improvements to the property, there may be pro-rated amount that can be deduced, even it was in good condition, it goes by age of the item. It is prohibited, by contract, for the tenant to use the security deposit as last month’s rent but it does happen once in a while or the tenant has prorated days that they owe you, these charges can be subtract from the Security Deposit. One reason to have the security deposit higher than the rent. Tenants that have vacated may challenge funds retained for damages from the security deposit, but Estey documents move-out condition of the property.
